Technology

Sallie Mae announced on Tuesday that it had introduced mobile banking to certain Apple products, allowing customers to manage their savings, money market and no-fee student checking accounts remotely. The student lender has wasted no time rolling out mobile check deposit, and lets customers deposit checks not only by snapping a photo with their iPhone or iPad, but also by using their "dorm room scanner."

Joining a growing list of similar companies trying to move more cash payments to cards, Payment Data Systems Inc. will launch iRemotePay next month to meet growing merchant demand for a payment-acceptance option to use away from their actual stores or if they do business in outdoor markets.

Following recommendations from India’s central bank urging the country’s financial institutions to issue chip cards, ICICI Bank Ltd. has begun to issue its first EMV-compliant credit card, the issuer announced Sept. 5.

Growth in merchant accounts that translated into more credit card transaction-processing fees helped Canadian merchant processor VersaPay Corp. boost second-quarter revenue.

Mortgage giants Bank of America, J.P. Morgan Chase, Wells Fargo & Co., Citigroup Inc. and Ally Financial Inc. are balking at an offer by state officials to ease their blame for alleged wrongful mortgage practices in return for a multibillion-dollar payment.

Many institutions are considering mobile phone-enabled check capture, a popular way of depositing checks in which consumers use their smartphones to take photos of checks to deposit them remotely.

Steve Geringer is offering a second time at bat for mobile payment technology that struck out: sound innovation that didn't match business realities.

Zions Bancorp., in its attempt to spot fraud, was gathering much more data than its technology could handle. While searching for a needle in a haystack, it was just piling on more hay.

A directive earlier this month from Visa Inc. designed to motivate merchants to support the EMV chip card standard for U.S. cards and payment terminals may spark a cottage industry in EMV training seminars and consulting.

Electronic funds transfer networks such as First Data Corp.’s Star are hearing increased chatter from financial institutions about securing and authenticating purchases at point-of-sale retail locations and online.